(STACKER) – The average US gas price from Monday fell six cents from a week ago, following President Biden’s release of 1 million barrels of oil a day for the next six months from the country’s strategic petroleum reserve.
While saving six cents at the pump might sound like a major win, it’s not exactly $2.3 billion back in your pocket. The surge in oil prices over the past month has greatly benefited oil companies, with ExxonMobil announcing on Monday that the company will post a massive increase in profits in the first quarter of 2022: up to $2.3 billion for oil alone.
Stacker has compiled statistics on gas prices in Alabama using data from AAA. Gas prices are as of April 4. State gasoline tax data is from World Population Review. Three states, Connecticut, Georgia and Maryland, have temporarily suspended gasoline taxes to help consumers as the cost of gasoline has risen.
Overall, the weekend brought more volatility to the oil market. Crude oil rose more than 3% on Monday following evidence of war crimes in Ukraine and increased pressure on European countries to impose sanctions on Russia’s energy sector in response.
Ukrainian officials said hundreds of people were massacred in the town of Bucha, located on the outskirts of kyiv. The authorities have also documented the presence of mass graves as well as the torture and summary executions of the civilian population. The town, previously occupied by Russian forces, was liberated by Ukrainian troops on March 30.
Elsewhere in the world, peace reigned. A United Nations-brokered two-month ceasefire between a warring Saudi-led coalition and Iran-backed Houthi rebels has had a positive impact on the oil market, easing concerns over the supply from the Middle East. The Houthis targeted Saudi oil installations during the war.
Alabama in numbers
- Current price: $3.95
- Weekly change: -$0.06 (-1.6%)
- Change of year: +$1.30 (+49.2%)
- Gasoline tax: $0.24 per gallon (33rd highest among all states)
- Historic Expensive Gas Price: $4.16 (3/11/22)
Subways with the most expensive gas in Alabama
- Daphne-Fairhope-Foley: $3.99
- Dothan: $3.99
- Montgomery: $3.99
- Mobile: $3.98
- Birmingham: $3.95
- Huntsville: $3.93
- Russell County: $3.91
- Tuscaloosa: $3.91
- Decaturate: $3.91
- Auburn: $3.90
- Anniston-Oxford: $3.89
- Florence-Muscle Shoals: $3.89
- Gadsden: $3.87
States with the most expensive gas
- California: $5.85
- Hawaii: $5.21
- Nevada: $5.19
States with the cheapest gas
- Missouri: $3.73
- Oklahoma: $3.75
- Kansas: $3.75
States with the highest gasoline tax per gallon
- Pennsylvania: $0.59
- California: $0.53
- Washington: $0.52
States with the lowest gasoline tax per gallon
- Alaska: $0.0895
- Hawaii: $0.16
- Virginia: $0.162
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